A politician and former presidential candidate for the Labour Party (LP), Peter Obi, has called on Nigerians to insist on transparency from the Nigerian National Petroleum Company Limited (NNPCL) regarding the actua status of petrol subsidy payments.
In a series of tweets on his official X account on Tuesday, Obi criticized NNPCL for providing ‘conflicting’ reports about the subsidy.
“Nigerians must stop at nothing in demanding for transparency in the operations of government especially critical agencies like the state-owned NNPCL whose activities appear to be shrouded in secrecy.
“The conflicting reports on subsidy payments have left Nigerians in the dark, unsure of what is happening in this all important company. It is very curious that the Nigerian National Petroleum Company Limited (NNPCL) which declared a N3 trillion profit in 2023, is coming up with a bizarre claim of “financial constraints” in supplying fuel.
“The fuel scarcity crisis, characterized by endless queues, and untold hardship, is a direct result of the government’s ineptitude. The $20 billion Dangote Refinery and other Modular Refineries’ struggles to secure crude oil supply and NNPCL’s search for outside operators for its refineries are further proof of this administration’s gross incompetence.
“We demand a better level of transparency in NNPCL’s operations, financial dealings, and plans for the future.
“The Petroleum Industry Act mandates an open and transparent NNPCL, we should not stand idly by while this government violates our laws. We demand that this administration come clean on these issues and take responsibility for the mess it has created.
“We should not rest until we uncover the truth and hold those responsible accountable. The Nigerian people deserve better,” he said.
Obi’s comments come amid speculation that fuel subsidies may have been secretly reinstated, despite President Tinubu’s announcement in May 2023 that they would be abolished.
Additionally, the NNPCL has recently disclosed that it owes over $6 billion to foreign suppliers for products. This debt is widely believed to be contributing to the ongoing scarcity of Premium Motor Spirit across the country.